Ontario Teachers Pension Plan Board bought a new position in Kinder Morgan, Inc. (NYSE:KMI – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 7,488,168 shares of the pipeline company’s stock, valued at approximately $239,397,000. Kinder Morgan accounts for approximately 1.5% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 8th largest holding.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Evolution Wealth Management Inc. boosted its holdings in shares of Kinder Morgan by 4,166.7% in the second quarter. Evolution Wealth Management Inc. now owns 768 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 750 shares during the period. Commonwealth Retirement Investments LLC bought a new position in Kinder Morgan in the 4th quarter worth about $27,000. Frazier Financial Advisors LLC bought a new position in Kinder Morgan in the 1st quarter worth about $28,000. Acumen Wealth Advisors LLC purchased a new position in Kinder Morgan during the 4th quarter valued at about $28,000. Finally, Basepoint Wealth LLC purchased a new position in Kinder Morgan during the 4th quarter valued at about $30,000. Institutional investors own 62.52% of the company’s stock.
Kinder Morgan Stock Up 1.8%
Shares of KMI opened at $32.90 on Wednesday. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36. The stock has a 50 day simple moving average of $32.04 and a two-hundred day simple moving average of $32.30. The firm has a market cap of $73.27 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.57 and a beta of 0.54.
Kinder Morgan Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were paid a $0.2975 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.19 annualized dividend and a yield of 3.6%. Kinder Morgan’s payout ratio is currently 76.28%.
Insider Activity
In other news, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the transaction, the vice president owned 41,743 shares in the company, valued at approximately $1,312,399.92. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $31.90, for a total value of $196,695.40. Following the completion of the sale, the vice president directly owned 164,208 shares of the company’s stock, valued at approximately $5,238,235.20. This trade represents a 3.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 13,882 shares of company stock valued at $441,691. Company insiders own 12.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Wolfe Research lowered shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, June 10th. Zacks Research downgraded shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Citigroup reaffirmed a “neutral” rating on shares of Kinder Morgan in a report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their price objective on Kinder Morgan from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.50.
Read Our Latest Research Report on Kinder Morgan
Kinder Morgan Profile
Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
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